Services

AMC Strategies and Operations

• Organizational Assessment: Because AMCs offer a unique combination of professional and operational services, they also face unique challenges as they grow. True’s AMC Operations Framework helps AMCs gain a clearer understanding of their organizational strengths and weaknesses and readiness for growth.
• Account Profitability/Portfolio Assessment: As AMCs grow, their cost models also change. Unfortunately, many AMCs fail to review and adjust their portfolios based on the new models, creating both strategic and operational challenges for their companies. Developing a clear picture of account profitability and the health of the overall client portfolio considering recent growth will create the foundation for sustainable growth.
• Pre/Post-Acquisition Support: Our industry continues to see robust acquisition activity. For AMCs looking to acquire, our services complement the valuation consultant with a complete assessment of the portfolio of client contracts for retention and other risks that a non-AMC professional may not be able to fully identify. For AMC owners who are considering selling, a proactive review of your client portfolio will inform strategies to improve the likelihood of post-acquisition client retention, increasing the value of the deal for both the seller and the buyer. Finally, we can assist with post-acquisition activities — both strategic and operational — to ensure effective integration of the two organizations.
• New Business Assessment: Client acquisition can be slow, expensive, and frustrating for AMCs. An independent review of past performances, processes, and goals will provide insight that is otherwise difficult to gain from inside your organization. Moving forward, we can provide third-party post-process interviews with prospects to determine key drivers in the final buying decision, providing valuable insight into why your AMC won or lost the sale.
• General Business Consulting and Project Support: Sometimes AMCs just need an extra set of seasoned hands to work through challenges or projects that require industry experience. With our assistance, you gain traction on those important initiatives that you just don’t have the bandwidth to address alone.

AMC Client Relationships

• Life Cycle Management/Client Retention Strategies: As AMCs grow, they must shift from the informal approach that is commonly practiced in smaller organizations to a more formal style. We can help implement an objective, structured method for recognizing potential client instability, which will strategically inform client retention strategies and investments.
• Client Relationship Strategies: AMC/Client relations can be complicated. When relationships become strained, the AMC’s capacity to grasp the issues from the client’s perspective and to swiftly adjust (or decide not to adjust) determines the future. We can provide third-party interviews with your client and team to get to the heart of the issue quickly. By providing the insight you need to make informed decisions, this process will also signal to the client that your AMC is serious about understanding their organization’s needs and meeting them.
• Portfolio Satisfaction and Needs Assessment: Challenge your assumptions regarding your clients’ feelings about working with your AMC with a third-party assessment. Interviews will reveal what is truly valued by your clients and potentially identify unmet needs or concerns in your client relationships.

AMC Team Development and Support

• Management Team Education and Development: Help prepare your team for effective business planning and mitigate the risks of insular thinking with custom half- and full-day programs on the issues facing AMCs. Topics could include:
  • Building a Resilient AMC: Macro Issues Facing AMCs.
  • Preparing for Growth: Common AMC Pitfalls and How to Avoid Them.
  • Rethinking AMC Value Propositions: How Will Your AMC Stand Out?
• Topical Deep Dives and Facilitated Discussions: Association professionals serving in the AMC environment have long complained about the lack of content directed at their unique needs.  With custom webinars or a webinar series on issues unique to the AMC environment, we can address this gaping need for your team. Topics could include:
  • Do You Wear Two Hats? Client Management in an AMC Environment.
  • The AMC Value Proposition: Why Clients Choose AMC Management.
  • What’s Going On? How the Client Life Cycle Informs Client Needs and Behaviors and What to Do About It.
  • AMC Accreditation Overview: What Employees Need to Know.
  • Strategies and Advice for New AMC Account Executives.
• Executive Advice and Mentorship: With a deep understanding of all aspects of running an AMC, we can help owners or their teams work through strategic challenges or simply serve as trusted counsel. If your AMC has a high-potential employee that needs more support or mentorship than you or your in-house team can regularly provide, True can fill that need.

Business Model Assessment: Associations are facing more challenges than ever before and responsible boards are evaluating their external strategies and assessing their organizational infrastructure fitness to deliver on those strategies in a sustainable way. True’s Operational Framework helps assess the effectiveness of your current operation and informs the vital decision of selecting the best model for a sustainable operation moving forward.

Business Model Transitions: Transitioning business models is a radical decision that, though sometimes necessary, can have many challenges and pitfalls. Whether moving to or from self-managed or AMC-managed or creating your own hybrid or patchwork model, we can help you navigate the governance and operational implications of this decision to ensure nothing is missed in the process.

Education for Boards: Changing management models is not just an operational decision, it also has significant governance and policy implications as well. Many associations proceed with these modifications without fully understanding the repercussions and how the responsibilities of the board and other principles must change. As a neutral party, True can educate your board on how a shift in the management model impacts the organization and the board to ensure well-informed decision-making.

For Channel Partners: If your organization is developing a strategy to work with AMCs or your current approach is languishing, True can offer insight into the varied needs of AMCs, an assessment of your current programs, and help you develop informed strategies by AMC segment.